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Mergers and Acquisitions

Mergers and Acquisitions

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Published by Jeegar Shah

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Published by: Jeegar Shah on Sep 11, 2011
Copyright:Attribution Non-commercial


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Introduction to Mergers and Acquisitions
Merger and Acquisition is a general term used to refer to the consolidation of companies. A merger is consolidation of two companies to form a newcompany while an acquisition is the purchase of one company by another onein which no new company formed. Four periods of economic history havewitnessed very high levels of mergers activity, which are called merger waves. These periods were characterized by cyclical activity i.e., larger number of merger followed by relatively fewer mergers. The current periodi.e. since 1992 to till the date is called fifth wave. In the first three waves,mergers activity was concentrated in the United States of America. The fourthand fifth waves were global in nature though the impact of the wave is most pronounced in USAThe similarity between merger and acquisition is that both of them arecombination of two companies. But the basic difference is merger is financialtool to enhancing long term profitability by expanding their operations.Merger results in a new company name and new branding. Acquisition is done
for purely for politically or marketing reasons. Acquisition is also known astakeover, it may be of two types – hostile or friendly.
Origin of Cadbury
Cadbury is the brain child of John Cadbury. Starting in form of grocery business in Birmingham in 1824.In 1853, Cadbury became the confectioner to

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